Correction: Cash ~$5.12/sh
Leo,
<<As of Dec 31, 1996, Premenos reported "Cash and short-term
investments" of $56.482 Million.>>
You are correct. I was in error. I was looking at their 27.7M on
9/30/96, as reported in Barron's. Barron's Dossiers hadn't
updated the cash position as of the most recent quarter, and I
misread it. The correct statistics are as follows:
Book ~$6/sh
Sales ~$3/sh
Current Ratio ~6.5
basically no debt
Cash ~$5.12/sh
So currently the business is valued at around 2.25-2.5 bucks/sh, or
around 25-30Million, depending on what has happened in the last
2+ mos since the report.
<<I checked your profile and some of your other posts. It appears that
you started a whole new thread back in November to promote this stock.>>
NO. I started a value investing thread and used PRMO as an example in
my opening statement. The thread has been very successful, and I don't think PRMO has been mentioned on that thread since. I never
have had a position in PRMO, as nothing in my technical analysis
has signaled buy since I first noticed the stock in Barron's.
Of course, I am always looking, and PRMO is one of the high-risk
bottom scrapers I am tracking with TA, along with COSFF and ODIS.
I'll buy any of them on any sign of life from the chart. I worry
about PRMO's cash, as so much of the market value is cash that
one might see a near dollar-for-dollar fall in the stock with any fall
in cash/share. The stock has fallen several dollars since I first
started tracking it (around when the $5/sh in cash was publicized
in Barron's), and may represent a cash drain that hasn't been made
public yet.
I do apologize for the misleading statement re: cash position.
In no way am I trying to manipulate the price with false rumors.
Good luck.
Mike |
